What is cyber liability insurance and data breach insurance?
Cyber insurance and data breach insurance protect against the risks of operating a business in a technology-reliant world. Cyber insurance protects a business from the risks of cyber crime and cyber attacks. Data breach insurance provides protections if personal, confidential, or sensitive data may be exposed.
What does cyber insurance cover?
Hacking
Malware or viruses
Phishing
What does data breach insurance cover?
Costs related to breach notifications
Public relation costs
Credit monitoring service costs
Cyber liability insurance and data breach insurance protects your small business from the financial fallout of data breaches, cyberattacks, and other cybersecurity threats.
What is not be covered by cyber and data breach insurance?
- Intentional mistakes
- Professional oversights
- Business property loss or hardware damage
- Sales losses during business interruption
A business owner’s policy or professional liability insurance policy are additional business insurance coverages that assist in these situations.
Who Needs Cyber Liability Insurance?
The growing prevalence of cyber threats makes cyber liability insurance a must-consider for businesses of all sizes. This coverage is especially crucial for small businesses that handle sensitive customer data, such as those operating online, processing credit cards, or storing Social Security numbers.
How much does cyber liability or data breach insurance cost?
Several business factors influence the cost of cyber liability insurance. These factors include the size and risk profile of your business, the type of data you store, and more. Generally, Gild Insurance clients spend $110 a month on cyber insurance policies.
Get a cyber insurance or data breach insurance quote!
Your Gild Insurance Agent is here for you. Your Agent will make sure you get the right business insurance for your business. For a free cyber insurance quote to compare cyber liability providers contact your Gild Agent.
For all the details, check out our Cyber Insurance and Data Breach Insurance FAQs and blog, The Gildfitter.
